Eight year old Indian e-commerce company, Flipkart, is finally getting ready to go public in the coming 18 months. The founders of this Singapore registered portal are in talks with investment banking firms like Morgan Stanley, Goldman Sachs, Citigroup, Deutsche Bank and their likes to help them raise a minimum of USD 5 billion through an Initial Public Offering (IPO) listing in New York Stock Exchange (NYSE).
According to a TOI report, sources familiar with the matter said that this will be the largest public offer by any Indian business till date and will value the company at over USD 30 billion.
Flipkart’s biggest investor Tiger Global is also reportedly a part of this process. The firm has till date participated in 6 out of 9 rounds of funding Flipkart has held, the latest being the USD 700 Million it raised in December 2014. The e-commerce firm has raised a total of USD 2.4 Billion till now.
The company would have to shell out a sizable sum in fees to the global investment bankers for helping them go public, USD 75-100 million as per TOI estimates. Looking at Flipkart’s line up of generous investors that might not be a much big of a deal.